What a Million Dollar Beachfront Condo Really Looks Like
When buying beachfront, a million dollars can certainly get you a condominium; however, as with all luxury real estate transactions, it’s possible that you’ll have to make a compromise to get the best location at the right price. Learn what’s important and what’s not when buying million-dollar real estate.
The Million-Dollar Mirage Some say a million dollars is a lot of money, and while others might disagree, the reality is that in high-end luxury real estate markets, a million dollars will only go so far. When it comes to beachfront real estate, people who “want it all” want the following:
- Location and access (within the unit)
- View (beachfront)
- Updated features and amenities
- Square footage
If you are looking at a condominium and are shopping in the million-dollar price range for the first time, then you’ll want to ground your expectations in reality before you begin your hunt. Depending on your budget, there is a possibility that you will have to compromise in one of the above-listed areas. Most often, people wise if they are willing to compromise on features and amenities.
Why Location and View are More Important than Updates
Smart buyers know that features and amenities can be changed with HOA approval. Further, features and amenities can become outdated over the course of time; no matter how new these things are at the time of purchase, they will eventually become old. After all, there was once upon a time where polished gold and silver were considered modern.
One thing that cannot change is a property’s location. Thus, if you are spending $1M or more on a condominium, you should invest your money in something stable that cannot change or (provided the area remains of quality, which in beach real estate, this is most always the case) that will not depreciate in value. If you have to choose, choose a beachfront view in a charming community over quartz countertops and travertine floors.
Of course, that said, it’s entirely possible to find a condominium on the Florida panhandle that “has it all”. Average condo prices along the Florida panhandle range from six figures to $1M or more.
An Overview of a Million Dollar Condo
While the majority of 30A is comprised of beach houses and bungalows, popular Sandestin, Destin, and Panama City have several facilities full of condominiums. In these highly popular locations, condos are often manufactured with quality materials. They are –of course—in preferable locations and provide beachfront access (so be prepared to make a decision if it comes down to it; after all the condo might have those coveted vaulted ceilings, but it may also be a few hundred square feet shy of ideal).
That said, even “small” are adequately sized considering their function; though, they may not be as spacious as one might expect in a different area of the country for the same price.
- Listed at $1,095,000
- 4 bed, 3 bath
- 1,834 square feet
- Exterior balcony
- Gas fire
- Kitchen island
- Gated community
Another unit at the Silver Shellsa St. Maarten in Destin is similar. Located on the 8th floor and featuring an open-flooring concept, this unit is:
- Located right at $1,000,000
- 3 bed, 3 bath
- 2,008 interior living space
- Granite countertops
- 279 square foot balcony
This property is between Rosemary and Alys Beach and is one of the few condominiums on the pristine stretch of highly desirable highway. It is worth noting that this area of 30A has restrictions on the height of buildings including condos, so there are no high rises. That is one of the most charming things about 30A; no building can obstruct the skyline.
Speaking of skylines, while it’s lovely to have a view from the top, there’s really not enough that can be said for strolling out the patio door, into the pillow-soft sand, and straight down to the sparkling Emerald Gulf Coast waters. Another advantage to ground floor condo real estate is that it is often more economical than upper-floor units as many condominium investors seek high-rise views in their condo. One rule of condo investing is that the higher you go, the more you will spend.
That said, there are several $1M condominiums available on 30A. When you shop for a beachfront condominium, inspect the condo’s age, features, size, location (both on the beach and within the unit), and overall view.
When you buy beachfront, the main thing you are investing in is the view, so make sure your beach views are what you want. Things that can be changed like the décor and upgrades can be addressed later. Make your $1M (plus) investment work for you. Look for a 30A condo that has the location, placement within the unit, and size that you feel is worth your money.
If you’re in the luxury real estate market and are looking for a million dollar condominium, then look no further than 30A. Among beachfront real estate in the U.S., the Florida panhandle is among the most reasonable. To look at million-dollar 30A condominiums, call local real estate expert, Melissa Clements, who will do her best to you find a condominium that is worth a million bucks.